Friday, October 31st9.6°C
23696
23004

Shares of sports camera maker GoPro jump nearly 30 per cent in stock market debut

NEW YORK, N.Y. - Wall Street has a taste for adventure.

Investors sent shares of GoPro Inc. up more than 30 per cent in their stock market debut Thursday, following an initial public offering that valued the sports camera maker at about $3 billion.

The company makes wearable sports cameras that are used by skydivers, surfers and other extreme sports fans to film themselves as they create first-person videos that capture the experience as they saw it. The cameras, which are light and waterproof, cost between $200 and $400. It also sells accessories such as cases, battery packs and mounts that help users attach their cameras to surfboards, helmets or their wrists. Users can download a free app or computer software to edit, store and publish their videos to their social media accounts, including Facebook, Instagram, Twitter and YouTube.

GoPro had the bestselling camcorder last year, according to government paperwork filed by the company. Its revenue jumped to $985.7 million in 2013, nearly double what it was a year earlier. However, in the first three months of 2014, revenue fell 7.6 per cent to $235.7 million from a year ago.

With its IPO, GoPro and selling shareholders raised $427 million after selling 17.8 million shares at $24 each. The San Mateo, California, company plans to use its share of the money raised to pay down debt.

GoPro shares rose $7.73, or 32 per cent, to $31.73 in afternoon trading Thursday after rising as high as $33 earlier.

GoPro shares are trading on the Nasdaq stock exchange under the symbol "GPRO."

The Canadian Press


Read more Business News

22970


Recent Trending




Today's Market
S&P TSX14580.80+122.109
S&P CDNX762.58-9.07
DJIA17368.14172.72
Nasdaq4625.653+59.515
S&P 5002013.92+19.27
CDN Dollar0.8869-0.0066
Gold1170.50-28.10
Oil79.89-1.01
Lumber323.80+0.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.18+0.0089
Metalex Ventures0.03-0.005
Russel Metals32.57+0.35
Copper Mountain Mining2.04+0.07
Colorado Resources0.12-0.02
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.38+0.005

 





FEATURED Property
2106948260 Grandview Bench Road
10085866 bedrooms
$560,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22632